coder1205:
Hi,
Do you have a (GREAT and SCALABLE) Fintech Idea or Business/ Consumer Tech related idea which is sustainable and can impact a substantial amount of people in Nigeria and Sub-saharan Africa as a whole? I am working with a UK/US based institutional venture capital investor with vast industry experience, who is looking for a scalable opportunity to invest within the region. Investors are willing to invest up to £2.5 million in Pre-seed/Seed Round. My email is paiks12055@gmail.com

Thanks.

truthCoder:
Thanks for your insights. FYI, I have actually started building 2 startups with the founders from scratch from this website since December of last year and all information is verifiable.

CAVEAT EMPTOR.

Do not discuss anything with him without him disclosing the VC he is working with and a certifiable power of attorney.

After that, sign a proper non disclosure agreement with him before proceeding.

You should verify any document he provides BEFORE discussing with him.

At the end of all discussions, and after getting an insight into your idea dynamics, he would offer you a very ridiculous offer so that you would either be so angry and pull out or so stupid to accept. And that is the goal, so you leave but he has the ideas.

Dont let them use baits to harvest your ideas.

You have been warned.

truthCoder:


CAVEAT EMPTOR.

Do not discuss anything with him without him disclosing the VC he is working with and a certifiable power of attorney.

After that, sign a proper non disclosure agreement with him before proceeding.

You should verify any document he provides BEFORE discussing with him.

At the end of all discussions, and after getting an insight into your idea dynamics, he would offer you a very ridiculous offer so that you would either be so angry and pull out or so stupid to accept. And that is the goal, so you leave but he has the ideas.

Dont let them use baits to harvest your ideas.

You have been warned.

coder1205:


Thanks for your insights. FYI, I have actually started building 2 startups with the founders from scratch from this website since December of last year and all information is verifiable.

airsaylongcome:


You have been posting about this "great and scalable" Fintech request since November 2022. What progress have you made since then?

coder1205:


I have provided funding to a remittance platform (iOS and Android) from this site and also another platform with premium commercial features all with proof as they are still in building stages. I am not here to deliberate or validate your negative opinion or disbelief in yourself. If you know you are ready to scale or grow and you have a unique angle in your processes, then feel free to reach out. Thank you

truthCoder:


I have also gone to Mars and come back. I met a Jennifer Lopez clone and we had a nice time.

Sending this message from the White House as a guest of Joe Biden. Putin would soon arrive as i plan to resolve the Ukraine-Russia conflict over a meal of Suya and Agege bread.

truthCoder:
After seeing the gaslighting attempt of the OP against airsaylongcome, I feel I owe it to members of this forum to give full disclosures about what I know about this 'acclaimed investor'.

TLDR: He claims to be a pre-seed investor and has access to UK VCs. He is just a hawk looking to fleece tech newbs off their ideas and prototypes, asking for 80% of equity for the pittance he is offering (if offering anything at all) so the person can either walk away or if dumb, be a slave to him all for nothing.

I saw one of his claims last year and I contacted him.

I have a fintech project which I am working on. Project is not generic as generic would not work in the region I intended to launch. I was on NL one day and saw his post, so I decided to contact him.

My mistake was that I assumed he was a passionate tech funder so I went into the conversation telling him bits and pieces of the project and some bits about the USPs. I did not request for details of his company, I did not sign an explicit NDA. I did not even see or know his authorisation to have such conversations on behalf of whomever he claims to be representing. He offered no legitimacy and I was dumb enough not to ask. The only 'credence' he had was a +44 WhatsApp number.

He claimed to have a team of coders ready to churn out any project at short notice. The only thing remaining was ideas.

He was interested in my project and straight-away wanted to know the 'nitty-gritty' of the idea. He was asking so many questions so I told him I would only be able to continue if we had an explicit agreement on our business relationship. If he liked my idea, he should tell me and we should discuss how the relationship would be. He said he liked the idea and is ready to be a part but can I answer just this other question.... He tried to prod around this but when I was insistent, he gave me his offer.

He proposed an agreement that takes over 80% of my company at pre-seed, with me handing over ownership and existing codes in return for him spending an undisclosed amount on getting more people interested in the business. I would still be in the company of course, pouring out my efforts into making the project work. He told me the 80% was his final offer.

It was not a buy-out. It was me simply signing away 80% of my company to a stranger who says he doesn't know how much he would spend but it is 'a lot' and I get nothing on day 1.

If I hand over 80% at pre-seed, please what will I hand over when the real VCs arrive? 80%!!!

I tried to reason with this 'investor' o but he was adamant, so I told him to move on. I saw my folly. The guy don play me street. I understood the 'catch-22' situation. No sensible person will give out 80% of a company for nothing. So he has a clean path to walk out and he leaves with the ideas you just discussed with hm. If you are dumb enough to accept, then you will be dumb enough to wait till a potential VC comes along who will take equity from his own 80% or do a buy out of the remaining 20% for chicken change.

I was lucky though, I did not share any code with him nor shared more than necessary. Some people would not be so lucky.

Now, don't get me wrong. He has a right not to like my project. He has a right to walk away. But he owes it to the the other party to say he was not interested. But asking for 80% of the company for no exact amount (which could range from cost of printing and photocopying the dumb agreement to nothing), it was an easy scam.

I moved on and was lucky enough to get real investors with proper structures from other areas and we would be launching soon. No serious investor asks for 80% for an undisclosed amount. Heck. I got $20,000 and a free USA company registration for 2% of another company.

When a girl is raped, most times she keeps quiet and the rapist feels more confident to rape another girl. When all raped girls come out to identify their abuser, maybe he would stop, maybe he won't, but other girls would know what they are entering if he invites them to his room.

NB: He opened this NL account and the email strictly for this. He is not on LinkedIn nor is associated with any company of repute in the UK or anywhere else. He is a ghost.

coder1205:


I never asked for your existing code which you didn't even have. I don't know where you got that from. I do not need anyone's code. I told you if I was going to get involved, it will be built from scratch. I told you i normally help founders who have not started building with development team in some cases and also help with launch of MVP for early stages with a development team and then introduce a VC investor once we have achieve some traction and commercial proof ie revenue. I didn't think your idea was a scalable idea worth investing my time or money and I was very clear about my concerns and findings. I do not mean to speak lowly about your idea, but i was very honest with you. You kept insisting and trying to convince me daily with loads of messages & calls and I told you the only way I will be investing millions of my (own) funds for building it from scratch with a world class engineering team and a marketing budget which was over 10 times of what you claim you got currently for an 80 or 70 percent stake as I saw your project as high risk and was not worth my time, resources or money. It is my funds and I can do what ever I want with it, and if you do not like the offer I gave you as I saw no commercial proof for your idea, then you can go somewhere else. It is that simple. It is better to be honest with people and say things exactly how it is. This will be my last message for you. Thank you.

truthCoder:
After seeing the gaslighting attempt of the OP against airsaylongcome, I feel I owe it to members of this forum to give full disclosures about what I know about this 'acclaimed investor'.

TLDR: He claims to be a pre-seed investor and has access to UK VCs. He is just a hawk looking to fleece tech newbs off their ideas and prototypes, asking for 80% of equity for the pittance he is offering (if offering anything at all) so the person can either walk away or if dumb, be a slave to him all for nothing.

I saw one of his claims last year and I contacted him.

I have a fintech project which I am working on. Project is not generic as generic would not work in the region I intended to launch. I was on NL one day and saw his post, so I decided to contact him.

My mistake was that I assumed he was a passionate tech funder so I went into the conversation telling him bits and pieces of the project and some bits about the USPs. I did not request for details of his company, I did not sign an explicit NDA. I did not even see or know his authorisation to have such conversations on behalf of whomever he claims to be representing. He offered no legitimacy and I was dumb enough not to ask. The only 'credence' he had was a +44 WhatsApp number.

He claimed to have a team of coders ready to churn out any project at short notice. The only thing remaining was ideas.

He was interested in my project and straight-away wanted to know the 'nitty-gritty' of the idea. He was asking so many questions so I told him I would only be able to continue if we had an explicit agreement on our business relationship. If he liked my idea, he should tell me and we should discuss how the relationship would be. He said he liked the idea and is ready to be a part but can I answer just this other question.... He tried to prod around this but when I was insistent, he gave me his offer.

He proposed an agreement that takes over 80% of my company at pre-seed, with me handing over ownership and existing codes in return for him spending an undisclosed amount on getting more people interested in the business. I would still be in the company of course, pouring out my efforts into making the project work. He told me the 80% was his final offer.

It was not a buy-out. It was me simply signing away 80% of my company to a stranger who says he doesn't know how much he would spend but it is 'a lot' and I get nothing on day 1.

If I hand over 80% at pre-seed, please what will I hand over when the real VCs arrive? 80%!!!

I tried to reason with this 'investor' o but he was adamant, so I told him to move on. I saw my folly. The guy don play me street. I understood the 'catch-22' situation. No sensible person will give out 80% of a company for nothing. So he has a clean path to walk out and he leaves with the ideas you just discussed with hm. If you are dumb enough to accept, then you will be dumb enough to wait till a potential VC comes along who will take equity from his own 80% or do a buy out of the remaining 20% for chicken change.

I was lucky though, I did not share any code with him nor shared more than necessary. Some people would not be so lucky.

Now, don't get me wrong. He has a right not to like my project. He has a right to walk away. But he owes it to the the other party to say he was not interested. But asking for 80% of the company for no exact amount (which could range from cost of printing and photocopying the dumb agreement to nothing), it was an easy scam.

I moved on and was lucky enough to get real investors with proper structures from other areas and we would be launching soon. No serious investor asks for 80% for an undisclosed amount. Heck. I got $20,000 and a free USA company registration for 2% of another company.

When a girl is raped, most times she keeps quiet and the rapist feels more confident to rape another girl. When all raped girls come out to identify their abuser, maybe he would stop, maybe he won't, but other girls would know what they are entering if he invites them to his room.

NB: He opened this NL account and the email strictly for this. He is not on LinkedIn nor is associated with any company of repute in the UK or anywhere else. He is a ghost.

coder1205:
Hi,
Do you have a (GREAT and SCALABLE) Fintech Idea or Business/ Consumer Tech related idea which is sustainable and can impact a substantial amount of people in Nigeria and Sub-saharan Africa as a whole? I am working with a UK/US based institutional venture capital investor with vast industry experience, who is looking for a scalable opportunity to invest within the region. Investors are willing to invest up to £2.5 million in Pre-seed/Seed Round. My email is paiks12055@gmail.com

Thanks.

coder1205:


I never asked for your existing code which you didn't even have. I don't know where you got that from. I do not need anyone's code. I told you if I was going to get involved, it will be built from scratch. I told you i normally help founders who have not started building with development team in some cases and also help with launch of MVP for early stages with a development team and then introduce a VC investor once we have achieve some traction and commercial proof ie revenue. I didn't think your idea was a scalable idea worth investing my time or money and I was very clear about my concerns and findings. I do not mean to speak lowly about your idea, but i was very honest with you. You kept insisting and trying to convince me daily with loads of messages & calls and I told you the only way I will be investing millions of my (own) funds for building it from scratch with a world class engineering team and a marketing budget which was over 10 times of what you claim you got currently for an 80 or 70 percent stake as I saw your project as high risk and was not worth my time, resources or money. It is my funds and I can do what ever I want with it, and if you do not like the offer I gave you as I saw no commercial proof for your idea, then you can go somewhere else. It is that simple. It is better to be honest with people and say things exactly how it is. This will be my last message for you. Thank you.

truthCoder:


CAVEAT EMPTOR.

Do not discuss anything with him without him disclosing the VC he is working with and a certifiable power of attorney.

After that, sign a proper non disclosure agreement with him before proceeding.

You should verify any document he provides BEFORE discussing with him.

At the end of all discussions, and after getting an insight into your idea dynamics, he would offer you a very ridiculous offer so that you would either be so angry and pull out or so stupid to accept. And that is the goal, so you leave but he has the ideas.

Dont let them use baits to harvest your ideas.

You have been warned.

odicity:
Hello can I have your email? Or Whatsapp? Don't know how to handle messaging here

coder1205:
Hi,
Do you have a (GREAT and SCALABLE) Fintech Idea or [b][/b]Business/ Consumer Tech related idea which is sustainable and can impact a substantial amount of people in Nigeria and Sub-saharan Africa as a whole? I am working with a UK/US based institutional venture capital investor with vast industry experience, who is looking for a scalable opportunity to invest within the region. Investors are willing to invest up to £2.5 million in Pre-seed/Seed Round. My email is paiks12055@gmail.com

Thanks.

coder1205:
Hi,
Do you have a (GREAT and SCALABLE) Fintech Idea or Business/ Consumer Tech related idea which is sustainable and can impact a substantial amount of people in Nigeria and Sub-saharan Africa as a whole? I am working with a UK/US based institutional venture capital investor with vast industry experience, who is looking for a scalable opportunity to invest within the region. Investors are willing to invest up to £2.5 million in Pre-seed/Seed Round. My email is paiks12055@gmail.com

Thanks.

Nolevel666:
bastard